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Jan 1, 2013
01/13
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we don't have a deal at this point. we've gone over the fiscal cliff. so we may not be seeing a recession necessarily looming any time soon but we are probably going to see a lot of slow economic growth. let's say you have a problem with your boyfriend or your girlfriend. you don't know if you're going to make it valentine's day. you're not buying those tickets to paris because you might not make it there. what we looked at in this deal right now, we -- with the tax increase on the $450,000, that 1% of americans, that's raising about $600 billion in new tax revenues. originally they were looking for $1.4 trillion. so we're not even halfway there. then we've got all these spending cuts on the table. we don't know what's going to happen with that. we're kicking the can down the road for another two months. the debt ceiling is still out there. countries around the world are looking at the united states and saying you couldn't get a deal done and you had 15 months when you know you had to do it? so there's a lot of anger for americans. honestly they've seen
we don't have a deal at this point. we've gone over the fiscal cliff. so we may not be seeing a recession necessarily looming any time soon but we are probably going to see a lot of slow economic growth. let's say you have a problem with your boyfriend or your girlfriend. you don't know if you're going to make it valentine's day. you're not buying those tickets to paris because you might not make it there. what we looked at in this deal right now, we -- with the tax increase on the $450,000,...
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Dec 31, 2012
12/12
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, when it comes to trying to avert the fiscal cliff. senators are leading the negotiations and they have until midnight tonight to come up with a compromise before massive spending cuts and tax increases kick it. that affected university about every one of us around the country. senator harry reid expects us to reconvene this morning. sue rae chin has more. >> reporter: member of congress left meetings on capitol hill sunday without a deal hours before the nation is set to fall off the fiscal cliff and negotiatations continue. >> reporter: if republicans and democrats can't strike a dell before midnight monday, taxes will go up for almost every american. automatic spending cuts will kick in and millions will lose unemployment benefits and i'm billing to get this done. >> reporter: republicans introduced but quickly withdrew a proposal to cut the deficit by slowing the growth of social security. but senators say there is some movement as both sides try to pro mize about which americans should start to pay a higher tax rate. >> republican
, when it comes to trying to avert the fiscal cliff. senators are leading the negotiations and they have until midnight tonight to come up with a compromise before massive spending cuts and tax increases kick it. that affected university about every one of us around the country. senator harry reid expects us to reconvene this morning. sue rae chin has more. >> reporter: member of congress left meetings on capitol hill sunday without a deal hours before the nation is set to fall off the...
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141
Dec 31, 2012
12/12
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hours before the nation is set to fall off the so-called fiscal cliff. >> there is still significant distance between the two sides, but negotiations continue. >> reporter: if republicans and democrats can't strike a deal before midnight monday, taxes will go up for most every american. automatic spending cuts will kick in. millions will lose unemployment benefits. >> i'm willing to get this done but i need a dance partner. >> reporter: republicans introduced but quickly withdrew a proposal to cut the deficit by slowing social security. >> there is a lot of give and take going on right now but republicans don't want to see tax increases used for new spending. >> reporter: vice president joe biden was called on to help with the negotiations, this as the white house places a lot of the blame for the impasse on the gop. >> they say their biggest prior is making sure we deal with a deficit in a serious way. but the way they are behaving is their only priority is making sure tax breaks for the wealthiest americans are protected. >> reporter: if a deal isn't reached the president wants to
hours before the nation is set to fall off the so-called fiscal cliff. >> there is still significant distance between the two sides, but negotiations continue. >> reporter: if republicans and democrats can't strike a deal before midnight monday, taxes will go up for most every american. automatic spending cuts will kick in. millions will lose unemployment benefits. >> i'm willing to get this done but i need a dance partner. >> reporter: republicans introduced but quickly...
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Jan 1, 2013
01/13
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cliff. early today, dozens of people stopped what they were doing to watch the president's statement thank you miami -- at the museum. they were hoping to hear the president say we've got a deal. instead all they heard was a deal is in sight but not done yet. >> very frustrating that they have been at this for months and months and it's now 12 hours away and we are very close, very, very close, that's great but i would like to see it done. >> this congress has already been called one of the most ineffective in modern history. what happened on capitol hill today only solidified that in many people's minds. we have made it easy for you to track all of the latest developments on the fiscal cliff. just head to our website, wusa9.com, and click on fiscal cliff. >>> 2012 ends tragically for a family of a prince william county police officer. officer chris yung died in a crash at the intersection of nokesville road and piper line in briscoe. deborah joins us live in prince william county with more.
cliff. early today, dozens of people stopped what they were doing to watch the president's statement thank you miami -- at the museum. they were hoping to hear the president say we've got a deal. instead all they heard was a deal is in sight but not done yet. >> very frustrating that they have been at this for months and months and it's now 12 hours away and we are very close, very, very close, that's great but i would like to see it done. >> this congress has already been called...
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Dec 31, 2012
12/12
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still no deals. so over the next few days the words fiscal cliff will be pretty much unavoidable. there is one thing you need to be prepared for, for many of you, your paycheck will go down in the new year. and here's why. the payroll tax cut was cut by two percentage points over the last two years to give the economy a little bit of a nudge. experts say that tax holiday is come to an end and the small tax break adds up over the course of a year. the center on budget policy says it is about $100 billion that will come out of our paychecks collectively and go to the tax man. goldman sachs said it would shave off the economic growth and here is the impact on you. let's say you make $50,000 a year. that works out to be about $20 a week according to the urban tax policy center. 20 bucks doesn't feel like much, but if you do the math, it adds up to about a thousand dollars less that you are going to be taking home in your paycheck. and that hurts. >> and your bills are going up. 5:37. if you forgot to make new year's eve plans, we have a couple of ideas for you later this hour. >> plus
still no deals. so over the next few days the words fiscal cliff will be pretty much unavoidable. there is one thing you need to be prepared for, for many of you, your paycheck will go down in the new year. and here's why. the payroll tax cut was cut by two percentage points over the last two years to give the economy a little bit of a nudge. experts say that tax holiday is come to an end and the small tax break adds up over the course of a year. the center on budget policy says it is about...